Networking equipment giant Cisco Systems released fiscal
first-quarter 2011 results late Wednesday, missing analysts'
estimates slightly. The company reported revenue of
$10.75 billion in revenue for the period, just missing the
consensus estimate of $10.76 billion, and missed earnings
expectations by a penny with GAAP earnings of 34 cents per
share.

Investors and analysts had grown cautiously optimistic in
recent weeks ahead of the report from the world's leading
router and switcher producer. Shares of Cisco had gained
1 percent on the week through Wednesday's session and 2 out of
14 economists had revised quarterly forecasts for the company
upwardly. The stock has fallen 4 percent since the
report, almost $1 per share, in after-market trading.

The report represented the Tech giant's first earnings miss in
the last five quarters. During the firm's 2010 fiscal
year, results outperformed estimates by a quarterly average of
11.6 percent. In an attempt to compete with other large
tech companies like Apple and Google, who have expanded their
finished consumer products businesses, Cisco acquired two
private firms during the quarter, ExtendMedia and Arch
Rock. The company also re-purchased 113 million shares of
its stock for an estimated $2.5 billion. Shares of the
company, after Wednesday's loss, are now down on the year.

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